Business Benefits of Launching an Internship Program

The New Year is a perfect time to develop a new mindset-- I know this firsthand.

If you’d like to work with interns but you’re not convinced of the ROI, I hear you.

You are correct to question whether or not working with interns makes sense for you and your organization. Afterall, most internships fail.

Especially since COVID, most managers today have a hard enough time staying on top of their experienced and skilled paid staff– many of whom are still working remotely full or part time.

So how on earth can managers also be expected to oversee interns with no work experience?

Believe it or not, I have invested the last 5 years of my life figuring out how to make internships work for both organizational leaders and young professionals.

For the first 2 ½ years of running my company, I was so focused on “work-ready interns” that, frankly, I overlooked the need for “intern-ready organizations.”

This major AH-HA allowed us to shift primarily to helping busy leaders set up and run great internship programs that meet their goals without all of the stress.

The good news is, a well-structured and well-run internship program can have solid business benefits.

As we head into the New Year, I am excited to share my top 5 reasons for you to move ahead with that internship program you’ve been thinking about launching.

1. Cost-Effective Low-Risk Project Support - A well-designed, well-run project-based internship program can provide the structure needed to get consistent and affordable help with repeat tasks involving research, admin, social media, tech improvements, and more– depending on your business needs. This approach frees up your core team for higher-level work without being legally obligated to hire your interns long-term.
2. Talent Pipeline to Meet Your Hiring Needs - An internship program is a great way to develop a hand-picked pool of potential future employees for the long haul. Interns can help to address talent shortages and workforce gaps made worse since COVID. And, since we live in a ‘try it before you buy it’ world, assessing your interns’ skills and fit during their internship increases your hiring confidence and decreases costly turnover.
3. Fresh Perspectives and Innovation - Young people bring new ideas that can help your organization stay modern and adaptable. Many of today’s 20-somethings are ‘digital natives’ who are tech-savvy in social media, AI, and emerging technologies. They typically enjoy solving problems and improving processes– a great win-win if your organization is wanting to accelerate your digital transformation in areas like marketing, sales, and operations.
4. Employee Engagement and Leadership Development - An internship program can motivate your current employees to step-up as Subject Matter Experts, speakers, and mentors supporting your interns during the critical early-career stages. It tends to spark positive workplace morale across your team and foster a culture of ongoing learning, growth, and overall collaboration.
5. Enhanced Brand and Reputation - An internship program positions your organization as a CSR (Corporate Social Responsibility) leader committed to purposeful work (Doing Well & Doing Good), which is exactly what over 80% of today’s young professionals are seeking. Organizations with successful internship programs often become brands and employers of choice because of their demonstrated commitment to empowering a diverse and inclusive workforce with valuable real-world experience. Investing in interns will also result in new community partnerships with colleges and other organizations whose strategic goals align with yours.

To Your Success!

Amy

P.S. If you’d like to learn more about how we help organizational leaders achieve their goals, check out our Services for Organizations.